We were working on our own versions of the code base for a while, and after a few failed attempts to merge back in I decided to completely fork off from the project. I believe it was a good decision, as we've both been able to pursue our own ideal solutions.
I'll let Nic explain the direction of his project, or you could see his posts about it on the ecommerce google group: http://groups.google.com/group/silverstripe-ecommerce
For the shop module, I've decided to take 2 steps backwards, before propelling forwards. I believe the module core has needed some refactoring to allow it to scale and improve moving forward.
As far as I know, the Translatable issue still remains. I'll have another attempt at fixing it soon, since people are complaining. Temporary fix can be found here:
Here are my thoughts on implementing multi-currency:
I've had one attempt so far at upgrading to SilverStripe 3. I'll definitely be having another try at some stage, and eventually completely porting the project to ss3. It's not a priority right now.